Thursday, 6 March 2014

UMW-OG unit gets RM148mil Petronas Carigali contract

UMW Oil & Gas Corp Bhd's unit, UMW Petrodril Sdn Bhd (UPD), has won a RM148mil contract from Petronas Carigali Sdn Bhd.

In a filing to Bursa Malaysia today, UMW-OG said the contract was for the provision of a hydraulic workover unit (HWU) rig for Petronas Carigali's workover programme together with the provision of an accommodation work barge and a portable crane.

UMW-OG said the contract was for an initial period of two years with the option of an extension of one year.

"The provision of the HWU is expected to contribute positively to the earnings and net assets of the group for the financial year ending Dec 31, 2014," it said.

UPD is principally involved in the provision of workover operations for the oil and gas industry.

It is a wholly-owned unit of UMW Malaysian Ventures Sdn Bhd, which in turn is a wholly-owned subsidiary of UMW-OG. – Bernama